Listen Button - Responsive

Diane Swonk

Commentator

Share It!

Diane Swonk is chief economist at Mesirow Financial, and an advisor to the Federal Reserve Board and its regional banks. She grew up in the Detroit area, and pre-economist jobs included: maid, fast food cashier, and hostess/waitress for a Mr Steak. She is an avid runner, and mother of two teenagers. Her first book was titled "The Passionate Economist." In her words:

I am dyslexic, which means that I don't know my left from my right. I also don't think linear, my brain works more in reaction functions. It makes me strategic and perfectly suited to be an economist, which requires multi-dimensional thought. I am at good at seeing where we are going, and thinking outside of the box, but very bad at giving driving directions.

The Federal Reserve wraps up its two day policy meeting today. It's expected to announce whether it will pump more stimulus money into the U.S. economy. Meanwhile, we just got inflation numbers for August. Wholesale prices increased 1.7 percent last month -- the biggest jump in three years.

In Frankfurt, the head of the European Central Bank Mario Draghi held a press conference. Everyone was waiting to see whether Draghi would announce new stimulus measures, after saying last week that he'd do whatever it takes to save the euro.

This morning the Labor Department reported the number of people applying for unemployment benefits fell by 26,000 last week to 350,000, the best number since March of 2008. Analysts point to the auto industry's seasonal production schedule as the source of the weekly dip.

The Federal Reserve will continue its Operation Twist program, but it can't do much else to help the global economic downturn caused by financial strain in Europe. On the plus side? We get lower gas prices.